Between January and May 2015, Hebei Province in Northern China exported 9,182Mmt (million metric tonnes) of steel products, up 52.7% year-on-year.
Hebei exports of steel products to 32 countries along what is known as the ‘Maritime Silk Road’ amount to 5.239Mt over the same period, up 86.3% year-on-year. The 47 countries along the ‘Silk Road Economic Belt’ totalled 1.985Mt, up 110% year-on-year.
Exports to the above countries accounted for 78.7% of the province’s total during the period.
Steel exports from Hebei Province were driven up by demand growth in emerging markets and in Europe and the USA.
There is huge market potential in countries along the Belt and Road route and while developing countries along the way are said to have weak foundations in manufacturing, they have ‘robust demand’ for infrastructure construction.
Source: China Metals.